Small enterprises' woes

Bangladeshi micro, small and medium enterprises which are collectively called MSMEs, have been most affected by the pandemic fallout in South Asia, according to the International Finance Corporation (IFC). Its survey has also found that less than 1.0 per cent of the MSMEs in Bangladesh have got access to the government's stimulus packages. Businessmen and researchers commonly said that majority of smaller units and also startups might not survive.

This is an ominous sign for the national economy, simply because these units not only employ many people but also help improve economic status of hundreds of thousands of people. When overseas jobs are shrinking and there is hardly any scope for expansion of medium and bigger enterprises, even survival of the MSMEs can help make the economic recovery easier. In this context, the government may assign a taskforce to work out strategies and fresh support packages for the vulnerable units and sectors.

SB Newton

New Eskaton, Dhaka

[email protected]